Robinhood has unveiled its latest product, Robinhood Connect, during the Consensus 2023 conference on April 27. This new feature allows customers to fund their Web3 wallets without leaving decentralized applications (dApps) or accessing their Robinhood Crypto accounts.
Robinhood streamlining crypto accessibility
Johann Kerbrat, GM of Robinhood Crypto, emphasized the potential of crypto and Web3 to transform the financial system for the better. However, he acknowledged that there are still significant barriers to broader adoption.
Robinhood Connect aims to address these challenges by making crypto more accessible and user-friendly, positioning the platform as the most cost-effective and straightforward on-ramp to cryptocurrency.
The new feature will launch soon with Phantom and Exodus and gradually roll out to other platforms in the coming months.
Improving the crypto experience
Robinhood has also made several enhancements to its in-app user experience. Some of the key improvements include:
Crypto Home Tab: A dedicated Crypto tab has been added to the platform’s app’s homepage, making it easier for the 23 million customers to navigate to Robinhood Crypto and manage their portfolios.
Advanced Charts: Catering to power crypto users, Robinhood Crypto now offers advanced charts that allow users to track technical indicators and fine-tune their trading strategies.
Advanced Order Types: Robinhood has added advanced order types, including stop orders and stop limit orders, based on user feedback.
Price Alerts: Users can create personalized pricing alerts to stay informed about market movements and trade on-the-go.
Learn and Earn: This educational program helps customers understand the value and technology behind digital assets, allowing them to feel more confident in trading cryptocurrencies. By completing educational tasks, users can earn small amounts of crypto. Over 1 million customers have participated in these modules since the program’s launch in late 2022.
The company says it believes that cryptocurrencies can help reduce the wealth gap by lowering barriers to entry in the financial world, especially for those who have been historically left behind by the traditional system.
The company aims to introduce more people to the world of crypto through better education, an improved user experience, and products like Robinhood Connect. These efforts will make it easier for customers to navigate and begin their Web3 journey.